Homebuyers are getting off the sidelines in Vancouver this summer, with a two-month streak of promising home sale activity, according to Greater Vancouver Realtors.

Home sales in the region totalled 2,286 in July, down two per cent year-over-year. 

“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend,” said Andrew Lis, GVR’s director of economics and data analytics. 

“Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the USA.”

Despite the steady sales activity, prices still softened slightly in July.

The benchmark price for all residential properties in Metro Vancouver is currently $1.16 million, a 2.7 per cent decrease year-over-year, and a 0.7 per cent decrease from June 2025.

Listings still climbing

There were 5,642 properties newly listed for sale, about one per cent higher than in July 2024. This was 12.4 per cent above the 10-year seasonal average of 5,018. 

Inventory stands at just over 17,000, up roughly 20 per cent from a year ago, and 40 per cent above the 10-year seasonal average.

“This level of inventory provides buyers plenty of selection to choose from,” Lis said. 

He noted that although sales activity is now recovering, this “healthy level of inventory” is sufficient to keep home prices trending sideways over the short term, as supply and demand remain in balance. 

“However, if the recovery in sales activity accelerates, these favorable conditions for home buyers may begin slowly slipping away, as inventory levels decline, and home sellers gain more bargaining power,” Lis said.